TV, phone, fridge, AC will be expensive in January-February

Shipping costs have fallen sharply. The rise in commodity prices worries companies. Smartphones, refrigerators and air conditioners can cost 10% more expensive than January-February . Clothing prices could also rise. This is according to data from industry sources.

According to the source, the companies will increase their product prices by 5 to 6% from next month to ease the burden of rising commodity prices. It is expected to increase by 10-12% in the second phase between January and February 2022.

Clothing exporters are negotiating prices with major brands to increase production costs. They are trying to reduce the burden on consumers. But prices for agricultural products, such as basmati rice, have risen. Both production and supply are said to have been affected by bad weather.

Notably, freight transportation costs have dropped by 5-15%. It varies depending on the destination. The cost of transporting goods to India ranged from $ 10,000 to $ 12,000 per container in August. This is down. At the beginning of the year, it ranged from $ 3,000 to $ 4,000. According to the exporters, the goods have been rented. Their production costs are rising. Due to declining demand and increasing container availability, India will not be able to cope with this pressure any longer, which will give new rise to the export sector. The country will take the path of rising prices in October. As a result, television, exports increased by 43% to $ 3,565 crore.